China's biopharmaceutical industry has enormous development potential, with a compound annual growth rate of 16%

　　According to industry predictions from the 2017 pharmaceutical market report, the global prescription drug market will steadily grow at a compound annual growth rate of 6.5% over the next 5 years, reaching US$1.06 trillion in 2022. Biologics will see steady growth, accounting for 30% of the pharmaceutical market in 2022, reaching US$326 billion. Currently, China's biopharmaceutical industry is experiencing explosive growth, with a compound annual growth rate of 16%. The industry expects continued growth in the future, with enormous development potential, mainly influenced by policies, technological innovation, and capital.
　　Favorable Policies Continue
　　In recent years, China's biopharmaceutical industry has seen a continuous stream of favorable policies. On January 12, 2017, the National Development and Reform Commission officially issued the "13th Five-Year Plan for the Development of the Bioindustry," proposing that by 2020, the bioindustry will reach a scale of 8-10 trillion yuan. On May 10 of this year, the Ministry of Science and Technology formulated and issued the "13th Five-Year Plan for Bio-technology Innovation," clarifying the goals of the "13th Five-Year Plan" for bio-technology innovation and accelerating the innovative development of China's biopharmaceuticals.
　　In addition, the introduction of relevant encouraging policies such as "Healthy China 2030" and "Several Policies to Promote the Accelerated Development of the Biopharmaceutical Industry" has created a good environment for innovation in China's biopharmaceuticals and provided a favorable development platform for biopharmaceutical companies.
　　Technological Innovation Leads the Way
　　In recent years, with the gradual improvement of bio-technology industry platforms and supporting industrial facilities, and with the continuous increase in support from relevant policies, the R&D capabilities of China's biopharmaceutical industry enterprises have also been continuously enhanced, and many technologies have emerged on the world stage. For example, in the field of stem cell research, China has already risen to the forefront of the world, and is in a "leading" position in certain areas.
　　Furthermore, as the situation in China's biopharmaceutical industry improves, the demand for talent is also expanding. According to industry data, there are currently over 1 million people in China's biopharmaceutical R&D workforce, 30% of whom are elites who have returned from overseas in recent years. The accumulation of these talents will further promote the innovation and upgrading of China's biopharmaceutical industry.
　　Capital Influx into the Market
　　According to authoritative data, in 2017, the scale of China's biopharmaceutical market was approximately 145.8 billion yuan, becoming an important driving force for the growth of the global pharmaceutical market. Against this backdrop, the huge market potential will inevitably attract capital pursuit.
　　In addition, with the acceleration of large-scale business restructuring in the pharmaceutical industry and the driving force of business integration needs, it will inevitably bring more impetus to future biopharmaceutical mergers and acquisitions.
　　Industry insiders say that through diversified capital operations such as investment and mergers and acquisitions and asset restructuring, the concentration of the pharmaceutical industry and commerce will be further improved, promoting the rise of emerging fields such as innovative drug R&D, high-end medical devices, and internet medicine, and promoting the optimization and upgrading of the industrial structure.